1 reply to this topic

[mtcarpenter]

I'm 19 so i'm new to credit cards in general I only have a debit card myself, but a few of my customers would like to use a credit card without having to mess with paypal.

I've looked at the cc module and I don't see how I would obtain the money? How exactly does that work. If they give me a cc number i cant just go the bank and give them that number and ask for 10 bucks can i? lol, i wouldn't think it works that way.

I'm just really clueless, and I don't wanna install it and allow people to use it when I don't even know what is going to happen with the money.

[TerryK]

In order to accept payment by credit card, you first have to obtain a merchant account from your bank (or other institution that offers credit card merchant services). Once you have an account, deposits are usually made directly to your bank, if you're using a terminal or phone authorization system. If you're using a good-old-fashioned-carbon-copy-type of card swiper, then you'll have to prepare deposit slips and take them in to the bank yourself.

Some banks charge an application fee for merchant accounts, others don't. Merchant account providers often have hefty application fees, so check carefully!

All will most likely charge you a percentage of the sale (average seems to lay somewhere between 2-5% of the order total). Many banks and merchant account providers also charge a transaction fee for each authorization you submit. My bank charges me a flat fee for the first 50 transactions, then a small amount for each one over that.

Visa and Mastercard have some merchant information on their Web sites. You could also check with your bank to see if they can help you.

HTH,

Terry

Edited by TerryK, 15 May 2004, 07:50.